Industry NewsTechnology

Global real estate advertiser makes gains in U.K.

The REA Group acquires

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The REA Group, a global online real estate advertising company based in Melbourne, Australia, has expanded its footprint in the United Kingdom with the acquisition of The REA Group's 50 percent owned United Kingdom subsidiary, Propertyfinder Holdings Ltd, has acquired Sherlock Publications Ltd for £5.6 million ($11.1 million USD), the company announced this week. Sherlock Publications owns and operates the UK's sixth largest property Web site, The site is used by 1,300 paying real estate agencies to advertise 170,000 listings. In addition, Sherlock Publications publishes the Hotproperty, Renting and Overseas, print publications with a combined monthly circulation of 120,000. The acquisition of the UK-based listings Web site marks the REA Group's sixth since February of 2007. In the past few years, the company has grown its legs in several countries and territories across the globe, including Australia, United Kingdom, Hong Kong, New...